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Eli Lilly (LLY) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Eli Lilly (LLY - Free Report) ending at $763.96, denoting a +0.45% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.72%. Elsewhere, the Dow saw a downswing of 1%, while the tech-heavy Nasdaq depreciated by 0.95%.
The the stock of drugmaker has fallen by 4% in the past month, lagging the Medical sector's loss of 0.03% and the S&P 500's gain of 2.16%.
The investment community will be paying close attention to the earnings performance of Eli Lilly in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.61, marking a 61.11% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $8.88 billion, indicating a 27.54% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.42 per share and revenue of $41.13 billion. These totals would mark changes of +96.52% and +20.54%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Eli Lilly. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% downward. Eli Lilly presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Eli Lilly is currently exchanging hands at a Forward P/E ratio of 61.23. This signifies a premium in comparison to the average Forward P/E of 14.81 for its industry.
Investors should also note that LLY has a PEG ratio of 1.67 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.73 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 218, positioning it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Eli Lilly (LLY) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Eli Lilly (LLY - Free Report) ending at $763.96, denoting a +0.45% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.72%. Elsewhere, the Dow saw a downswing of 1%, while the tech-heavy Nasdaq depreciated by 0.95%.
The the stock of drugmaker has fallen by 4% in the past month, lagging the Medical sector's loss of 0.03% and the S&P 500's gain of 2.16%.
The investment community will be paying close attention to the earnings performance of Eli Lilly in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.61, marking a 61.11% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $8.88 billion, indicating a 27.54% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.42 per share and revenue of $41.13 billion. These totals would mark changes of +96.52% and +20.54%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Eli Lilly. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.18% downward. Eli Lilly presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Eli Lilly is currently exchanging hands at a Forward P/E ratio of 61.23. This signifies a premium in comparison to the average Forward P/E of 14.81 for its industry.
Investors should also note that LLY has a PEG ratio of 1.67 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.73 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 218, positioning it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.